Forex News
Dollar pares losses against euro after Fed forecast
26 January, 2012 - Reuters
NEW YORK, Jan 25 (Reuters) - The dollar pared losses against the euro on Wednesday after the U.S. Federal Reserve took the historic step of setting an inflation target.
The 2 percent target moves the Fed in line with many of the world's other major central banks.
The euro last traded at $1.3054, up 0.2 percent but down from around $1.3084 prior the announcement.
The euro earlier hit a near 5-week high of $1.3102 after the Fed said it would keep rates untra-low until at least late 2014, later than many investors expected.
(Reporting by Julie Haviv; editing by Jeffrey Benkoe)
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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